Notorious American venture capital investors and long-time cryptocurrency bull, Tim Draper, has just set an astronomical prediction for Bitcoin (BTC) by the year 2022. Yesterday, at a blockchain party held at his self-named Draper University in San Mateo, California, he predicted that the world’s largest cryptocurrency would reach $250,000 a coin. The video can be seen below.
In the video Draper says:
“I’m thinking $250,000 a bitcoin by 2022. Believe it. They’re going to think you’re crazy but believe it. It’s happening, and it’s going to be awesome!”
Serious winds (of change) at our block (chain) party last night. Predicting bitcoin at $25k by 2022.
— Tim Draper (@TimDraper) April 13, 2018
While this may seem a bit crazy, given the bear market the past few months Draper has a fairly good track record of predicting Bitcoin’s price movements. In 2015, the VC mogul was right when he predicted that BTC would reach $10,000 by the end of 2017 because it soared past $13,000. With that said, market observers aren’t taking his bullish forecast lightly. Draper holds an undergraduate degree in electrical engineering from Standford and has an MBA from Harvard, coming from a long family line of venture capitalists.
Blockchain is the Future
Draper isn’t just keen on digital currencies but believes blockchain technology will completely transform and revive finance, healthcare and various other industries. He spoke to the San Mateo Daily Journal about blockchain and said:
“The blockchain is one of the most transformational technologies that has happened in the history of the world, and it is totally worth celebrating,” he said. “We look forward to lots of crypto fun and excitement from the event.”
Draper isn’t the only billionaire eyeing the blockchain technology, the Rockefeller family, whose worth is around $1 trillion, have partnered with Coinfund to aid blockchain-based start-up companies. The Rockefeller family isn’t interested in turning short-term profits but sees this as a long-term investment in blockchain technology. The entry of Old Money into the cryptocurrency and blockchain space is another sign that blockchain is here to stay.
Featured Image: Silicon